The Bitcoin halving is one of the most important events in the entire crypto world due to its ability to boost prices to a considerable level. Since BTC is the most important digital currency in the world, with the most robust performance and highest market capitalization, the effects of the halving are not restricted to the Bitcoin market but have become widespread across the entire cryptocurrency world. In 2024, BTC reached a new all-time high even ahead of the halving, exceeding $73,000 in March as a result of the adoption of the exchange-traded funds at the beginning of January. Nonetheless, the halving will still contribute to BTC’s price performance, with the only difference being that it takes a little longer for it to achieve growth. However, market users know that this is the best time to buy Bitcoin online, as the prices are still achievable for most investors.
$130K
Historical data shows that it typically takes at least five months after the halving for the prices to start growing. This time, most investors were looking forward to the $100,000 level becoming a reality. While it may have seemed like a difficult-to-reach milestone only a few months ago, the fact that BTC could muster up the strength to beat its own price records hasn’t gone unnoticed, and investors are now convinced that $100K is too low a level compared to how high Bitcoin could get. As such, traders are now confident that a level somewhere between $130K and $150K is much more likely.
Investors won’t see these prices right from the beginning of the year but should be prepared to face them around late August to early September of the next year. During the first quarter, though, Bitcoin will most likely cross the threshold into the six-figure price level, a very welcome New Year gift for BTC users from all over the world. This prediction is based on historical data patterns gathered from the previous halvings. During these events, miner rewards are reduced by 50%, an occasion that fuels the scarcity, making Bitcoin such an attractive trading asset in the first place.
Bull market
During bullish periods within the trading market, assets grow and become more robust. In the past, the Bitcoin halving has always ushered in the beginning of such an event. The immediate aftermath of the halving is only the beginning, as it takes some time for the values to reach their peak. During the previous Bitcoin market, the halving began roughly 16 months before May 11th, 2020. It then took eighteen months for it to conclude.
The earlier halvings of 2016 and 2012 followed similar patterns as well, so it isn’t unrealistic to expect similar price action during the next couple of years as well. However, analysts want traders to remain aware of the fact that no analysis is entirely fool-proof, especially not within such a changeable market as cryptocurrencies. If the growth patterns remain consistent, this market high is possible, and it is also likely that the values will continue to stay strong even after the post-halving boost winds down.
Crypto millionaires
The crypto-rich are a group of individuals who have amassed significant amounts of gains through the means of cryptocurrency investments. Typically, they’re early investors or have at least been involved in the marketplace for several years. Some of them were directly involved in the development of a cryptocurrency project. And if you think that this group is made up of a few individuals, as is the case for fiat currencies and traditional assets, think again. Roughly 1,500 wallets reach the million-dollar mark every day, meaning that the number of people who become wealthy primarily because of Bitcoin is higher than previously anticipated.
Recently, research has become interested in the impact this status can have on the psychology of traders and how they are likely to change after achieving this milestone. One of the youngest Bitcoin millionaires in the world comes from Idaho and started buying before he was even a teenager. He made his first investment when he was 12, using money his grandmother had given him, and by eighteen, he was already able to enjoy his millionaire status. His experience led him to realize that wealth does indeed open many doors, since things that appeared to be close to impossible before were suddenly within reach.
Another millionaire investor who also became a Bitcoin educator recalled how his status allowed him to buy the home of his dreams. Some have started real estate endeavors and investments in other areas. Most BTC millionaires say that they have remained relatively grounded but admit that they do indulge in occasional luxuries. The fact that they were able to build wealth changed their perception of money, and most are now more attentive with their spending, preferring to continue building their assets instead of spending money to give the impression of richness.
As for the psychological impact of becoming wealthy literally overnight, many say that they kept their millionaire status secret from most people they know, something that can be achieved quite easily given the fact that the blockchain is entirely anonymous. Some say that they haven’t become more generous as a result of their newfound luck. And that their circle has somewhat changed to involve people with a similar or even more elevated level of wealth to avoid the possibility of envy.
Winning plan
Given that the bull run seems to only be a matter of time, what are some strategies investors should take into consideration in order to protect their portfolios? Making the most out of the momentum is important, and you can use the moving averages to follow upward trends. Studying the past cycles can also identify both the entry and the exit points in the bull run, so you don’t overstay your welcome but also don’t withdraw while there’s still a possibility for profits.
Although Bitcoin is the most popular cryptocurrency, it is still highly volatile and unpredictable, so you need to make sure that you’re always well-informed. All news and events that could move the price should be part of your plans to keep the probability of losses at a minimum. Look for growth opportunities, such as fundamentals or real-world cases. These asset classes are more likely than others to thrive during a bull run.
As always, remember to be disciplined and attentive when investing. Don’t disregard your risk tolerance and aim for long-term investments.